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Gearing up for growth in the Free State

Gold Mining Company Limited (NYSE: HMY JSE: HAR) today announced that the final arrangements for the reimplementation of CONOPS at Bambanani and Tshepong, and the implementation of CONOPS (firsttime) at Masimong later this year are being made. Harmony has signed CONOPS agreements with the two majority unions in the Free State region, the NUM and UASA, and is looking to roll out CONOPS as early as next week.

In addition, Harmony has received Sunday work permission from the Department of Minerals and Energy (DME) for two months and awaits final approval from the Minister of mines for the full 14 months (renewable) included in the agreement, a crucial part of CONOPS implementation.

The implementation of CONOPS is not only a significant job saving initiative implemented in Harmony, but it serves to improve productivity, production and cash flows at the operations where it is implemented. This in turn helps sustain the high levels of investment in these respective regions. In the Free State region specifically, the proceeds will go towards to completion of our new mine, Phakisa and our major expansion projects, the Tshepong decline and Masimong expansion. The completion of these projects will secure higher production and extensions to the current mine lives to benefit all stakeholders.

Harmony Chief Executive Bernard Swanepoel commented: “Not only is CONOPS a good business decision that is adding value to our operations, but it aligns Harmony’s work practices with other companies internationally. Furthermore it’s the responsible thing to do in areas that are highly reliant on mining for economic sustainability. “

For more details contact:

Bernard Swanepoel
Chief Executive
+27(0)83 303 9922

Ferdi Dippenaar
Marketing Director
+27(0)82 807 3684

Vusi Magadana
Investor Relations Officer
Office: +27 11 684 0149
Mobile: +27(0)72 157 5986
This email address is being protected from spambots. You need JavaScript enabled to view it.

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